2024-02-04 13:30:00 ET
Summary
- InMode stock has consolidated constructively but has not experienced the renewed enthusiasm observed in other med tech stocks.
- Near-term headwinds are expected to persist for INMD due to its specialization in aesthetics. Management offered tepid guidance for 2024.
- INMD's guidance aligns with caution from Baird, pointing to challenges in the aesthetics market that are expected to persist for at least another fiscal year.
- I explain why my confidence hasn't wavered, as INMD's valuation and price action suggest its long-term bottom had already formed.
- Investors looking to partake in a potentially explosive recovery after navigating its near-term challenges should consider it a doubling-down opportunity.
I last updated InMode Ltd. ( INMD ) investors in November 2023, shortly after it fell to a three-year low in October. I assessed that INMD has likely struck its long-term bottom , suggesting the worst is likely over. While INMD has underperformed the S&P 500 ( SPX ) ( SPY ) since my upgrade in November, it has consolidated constructively. Despite that, INMD has not seen the renewed enthusiasm observed in the likes of other med tech stocks that saw a resurgence since falling to their October lows after encountering significant headwinds last summer....
Read the full article on Seeking Alpha
For further details see:
InMode: Take The Plunge Before It Goes Into Beast Mode